Mumbai, India (BBN) – The Indian rupee weakened by 8 paisa to 65.44 against the US dollar in early trade at the Interbank Foreign Exchange market Tuesday due to appreciation of the American currency overseas.
Dealers attributed the rupee’s fall to increased demand for the US currency from importers, reports The Hindu Business Line quoting PTI.
However, a firm domestic equity market capped the rupee’s losses.
Yesterday, the rupee had closed at a fresh 16-month high of 65.36 against the greenback in the face of dollar unwinding from exporters and banks.
Meanwhile, the benchmark Sensex recovered by 56.92 points, or 0.19 per cent, to 29,575.66 in early trade.